In its latest Real Estate Highlights for 1H2020, Knight Frank Malaysia predicts that the coronavirus pandemic may have brought about a shift in buyers’ preference in the residential property market.
“Subject to affordability, they may prefer landed properties/low-density developments with larger or more spacious layouts that come with extra room/study that can be converted into a home office as working from home may be a new normal moving forward,” the report said.
“For high-rise/high-density developments, a higher level of maintenance and management service is required, particularly in terms of hygiene and cleanliness with regular cleaning/sanitisation of common areas and facilities. Buyers may also prefer smart homes that come with high-speed internet (WiFi) and those that come with better ventilation and natural lighting,” it added.
According to Knight Frank Malaysia managing director Sarkunan Subramaniam, the review period saw fewer residential project launches and lower level of transactional activity in the central areas of Kuala Lumpur. “Still, against this backdrop, we observed active bookings of rightly positioned residential products of reputable developers in city fringe and popular/upcoming suburbs.
Media Title: The Edge CEO Morning Brief
Date: 14 Jul 2020